Alumina spot price in China grows for the second consecutive day to RMB2449/t; A00 aluminium ingot price sheds RMB110/t

The average alumina spot price in China has recorded a rise for the second day in a row, albeit lower than the previous day, by RMB 18 per tonne, found the Shanghai Metals Market. So, as of Monday, May 24, the price is standing at RMB 2,449 per tonne.

In Shanxi, alumina price has increased by RMB 25 per tonne to RMB 2,465 per tonne, while the price in Henan has grown by RMB 20 per tonne to come in at RMB 2,455 per tonne. In Shandong and Bayuquan, alumina spot price has inched up by RMB 5 per tonne to come in at RMB 2,435 per tonne and RMB 2,480 per tonne, respectively.

Australian alumina FOB price, on the other hand, has continued to hover at US$ 276 per tonne, according to the Shanghai Metals Market.

A00 aluminium ingot price, however, has extended the downfall for the fourth consecutive day, despite the rise in the alumina spot price. According to SMM, the primary aluminium ingot price has dwindled by RMB 110 per tonne to open the week on May 24 at RMB 18,340 per tonne. The average prices are expected to range between RMB 18,320 per tonne and RMB 18,360 per tonne, with spot contract to be traded at a premium price of RMB 10-50 per tonne.

In Wuxi, A00 aluminium ingot price has plunged the highest by RMB 180 per tonne to stand at RMB 18,275 per tonne, followed by the decrease of RMB 165 per tonne in Chongqing to RMB 18,350 per tonne. In Shenyang and Hangzhou, primary aluminium ingot price has declined by RMB 150 per tonne and RMB 125 per tonne to RMB 18,440 per tonne and RMB 18,355 per tonne, respectively, while the price in Tianjin has shrunk by RMB 120 per tonne to settle at RMB 18,380 per tonne.

Aluminium alloy (A356) price has slipped by RMB 100 per tonne on May 24 to peg at RMB 19,050 per tonne, according to SMM. The average prices are expected to range between RMB 19,000 per tonne and RMB 19,100 per tonne.

Aluminium alloys (ADC12) price and aluminium alloy (A380) price have decreased by RMB 50 per tonne to close at RMB 19,100 per tonne and RMB 20,100 per tonne, as of May 24.